One of the critical mistakes consumers make when they are drowning in debt? People are waiting too long to file for bankruptcy. The fact is, many consumers will drag their feet when it comes to seeking help from a bankruptcy attorney. Understanding why filing bankruptcy is actually the responsible choice may help you to avoid the same delays.
Filing for Bankruptcy Is Responsible
Bankruptcy attorneys typically come into people’s lives when they are at one of their lowest points: financial issues can cause stress, frustration, and worse. A bankruptcy attorney often has to convince clients that what they are doing is not irresponsible and they should not feel ashamed.
If you step outside your situation and look at the facts, bankruptcy is often the more responsible way to manage your financial problems.
Hiding from creditors is an exercise in futility. Collection attorneys are very good at what they do. Even if you can successfully hide from a process server, the collection attorney can obtain a judgment on you by publication. Speaking with an attorney is how you can take responsibility and formulate a solution to your financial problems.
Approaching debt head-on and taking advantage of the laws that are put in place to protect consumers is one of the best ways to deal with debt problems. Bankruptcy can be a very powerful tool. It can stop foreclosures, it can put a stay to repossessions, stop garnishments, even the IRS, and it can help you to reorganize your debt without harassing phone calls.
A bankruptcy attorney can help you to take control of your debt and take responsibility for it. Whether you are considering a chapter 7 bankruptcy or a chapter 13 when you file, you are sending the message to your creditors that you are taking responsibility for the debt and are not hiding your head in the sand.
I have seen too many scenarios where a client depleted all their retirement or refinanced their home, only to come to me to file a bankruptcy. I believe that people are truly optimistic and it breaks my heart to see clients who have basically leveraged or completely eliminated their future financial stability. It is crucial to speak with an attorney early on during your financial difficulties to determine if you should deplete your life savings before you actually do so.
In a twelve-year period between 2005 and 2017 about 12.8 million people filed bankruptcy to get the protection that they deserved. If you’re thinking that bankruptcy is the right decision for you, reach out to our bankruptcy attorneys today.
You Deserve a Second Chance
Moving quickly when you realize that you are in over your head is the best way to get on the road to your fresh financial start. There are solutions that debt elimination lawyers can provide you with that will mitigate debt and give you a clean financial slate. Waiting longer will not make the problem go away: calling a bankruptcy attorney for a consult will. Don’t hesitate to call our experienced bankruptcy attorneys today for more information.